Business Shots

Thursday, December 07, 2017

Bombay High Court upholds validity of RERA
The Bombay High Court yesterday upheld the validity of the Real Estate (Regulation and Development) Act (RERA). A bench of Justices Naresh Patil and Rajesh Ketkar pronounced its judgement on a bunch of petitions filed by by real estate developers and individual plot owners, all challenging the constitutional validity of the Act that was brought into effect earlier this year. The Act, among other things, mandates that all developers register themselves under a common regulatory authority. It also allows buyers to claim compensation for delay in possession, and envisages cancellation of a developer's registration in case the developer fails to complete the project within stipulated deadline.

RBI to rationalise charges on debit card transactions
The Reserve Bank yesterday said it has decided to rationalise charges on debit card transactions based on category of merchants with a view to giving "further fillip" to digital payments. In its 'Statement on Developmental and Regulatory Policies', released along with the resolution of Monetary Policy Committee (MPC), the RBI said that in recent times debit card transactions at 'Point of Sales' have shown significant growth.

GAIL hires a drone to secure gas pipelines
GAIL India Ltd, the country's biggest gas transporter, has deployed a drone on pilot basis for surveillance of its main trunk pipeline as it uses technology to secure its vast network, its director (pipelines) Ashutosh Karnatak said. In the aftermath of the June 2014 accident at its pipeline in Andhra Pradesh that killed at least 18 people, the state-owned firm has taken a number of initiatives to raise safety standards including replacing old pipelines and using advanced technology. "We have hired one drone on a pilot basis for aerial surveillance of the HBJ pipeline in the Chambal Ravines in Madhya Pradesh," he told reporters here.

Essel Finance appoints Viral Berawala as the CIO of Essel MF
Essel Finance has appointed Viral Berawala as the Chief Investment Officer (CIO) for the firm’s newest division, Essel Mutual Fund. He has around two decades of experience in major financial & Information Technology companies like Reliance Nippon Life Insurance Company, Reliance Nippon Life Asset Management & Tata Consultancy Services. Prior to joining Essel Finance, Berawala, served as the CIO at Reliance Life Insurance Company where he managed / over looked $2.8bn of assets.

TVS Motor launches Apache RR 310
TVS Motor Company yesterday said it has forayed into the super-premium segment with the launch of TVS Apache RR 310. The motorcycle marks the company's entry into the super- premium segment, both in domestic and international markets, TVS Motor Company said in a statement. The motorcycle comes with a 312 cc, single-cylinder, 4- stroke, 4-valve engine. It has a top speed of 160 kmph, and acceleration from 0-to-60 kmph in 2.9 seconds. "We are confident that customers will find it to be a perfect combination of racecraft technology and riding dynamics," TVS Motor Company Joint MD Sudarshan Venu said.

Tata Motors rolls out first electric-Tigor for EESL
Homegrown auto major Tata Motors yesterday rolled out the first batch of the electric variant of its compact sedan Tigor from its Sanand facility in Gujarat. The first batch of e-Tigors are being produced for the Energy Efficiency Services (EESL), which had placed an order for 10,000 electric sedans in October, and are part of the first 350 orders that the company had won in the first phase. The first batch was flagged off in the presence of Tata group chairman N Chandrasekaran, group patriarch Ratan Tata, and Tata Motors MD and CEO Guenter Butschek.

Power ministers' meet kicks off today, 'Saubhagya' in focus
Power ministers of States and Union Territories will focus on the Saubhagya scheme to provide electricity to 4 crore families by 2018, when they meet for a two-day conference starting today. As per the agenda of the meeting, the Centre is expected to ask states to submit their plans and funding requirements for the scheme. The biennial conference would be chaired by Minister of State for Power R K Singh.

Tata Docomo to Organise Customer Awareness Camp
Tata Docomo will organize a customer education workshop in Mumbai on Friday, Dec 8 2017. The workshop will start at 10 am and will be held at Dadar (W). The aim of the workshop is to educate customers about the products and services of Tata Docomo, and the consumer friendly grievance redressal mechanisms provided by the organization. These workshops are organized on a periodic basis by Tata Docomo to gather valuable feedback from its customers.

Aries (Mar 21 - Apr 20)You are likely to remain careful and watchful today, foretells Ganesha. And because you'll be invited to parties and other social events, your enthusiasm will remain buoyant. You will also strike the right balance between business and pleasure, says Ganesha.